(To read more on the multifamily market, click here.)
CHICAGO-Equity Residential is hoping to review final bids forits 27,390 units it acquired from Lexford Residential Trust earlynext month. President and chief executive officer David J.Neithercut says preliminary bids are due soon, which will allowEquity Residential officials to offer more detailed information toa list of finalists.
"We have no need and are under no obligation to sell,"Neithercut stresses during Equity Residential's recent earningsconference call. "We'll sell if it's a price we like, or if a saleis approved by the board."
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